Top 20 Most Admired Companies

From the common cold to clogged arteries, J&J has the remedy. The $61 billion company recorded operating margins of almost 25% last year. More broadly, the 122-year-old health-care conglomerate is admired for its ability to be competitive in three businesses -- consumer health products, branded pharmaceuticals, and medical devices.

That's nothing to sniff at. J&J's competitors have responded to uncertainty in health-care markets by narrowing their focus.  -John Simons